Will energy bills change with Ofgem price cap set to rise on January 1
dailyrecord.co.ukSome consumers may have received concerning emails regarding energy price rises going into the New Year.The regulator Ofgem has confirmed its price cap will increase by around 20 percent come January 1 - up from £3,549 a year for someone with typical use to £4,279.
This could lead to confusion as UK energy bills are still discounted by the Government's Energy Price Guarantee until April 2023.
The guarantee covers the amount you pay per kilowatt, and is currently set at a rate which will see the average household pay around £2,500 a year - rising to £3,000 in April.
Changes are likely to be minimal for consumers, meaning pennies more, rather than pounds, reports the Mirror. This is because the guarantee is still in place, although there are regional differences in the Ofgem price cap rates, and the discount applied through the Energy Price Guarantee is a flat rate.
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